Serco in talks with AEGON over life and pensions BPO

A wide range of outsourced services for the FS company will be delivered in the fourth quarter of this year

Outsourcer Serco is in talks with AEGON to provide a range of outsourced services in the life and pensions marketfor the next 10 years.

Under the partnership is expected to commence in the fourth quarter of this year.

Serco will take on 330 members of AEGON’s staff and operate out of its office in Lytham St Annes.

The BPO specialist manage all aspects of AEGON’s contact with customers, including initial underwriting and claims management through AEGON's Individual Protection suite.

Serco will also look after all aspects of policy servicing and claims for small ‘closed books’ of pension and life assurance policies that are no longer sold but require on-going management.

“Our strategy with the UK business, which is line with AEGON’s global strategy, is to develop our protection business to be one of the leading UK protection providers,” said Adrian Grace, UK CEO of AEGON.

“We are committed to providing first class customer service with cost-efficient operations, and partnering with Serco will provide this for us. We remain committed to building our UK business focusing on our chosen markets of workplace savings and at-retirement, of which our individual protection business is a core part.”

Research director, John O’Brien, at analyst firm TechMarketView described the deal as a “shot across the bows at life and pensions BPS market leaders Capita and Diligenta/TCS”.